Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  BWX Technologies Inc       US05615F1021

News SummaryMost relevantAll newsSector news 

Babcock & Wilcox Co : B&W Closes $700 Million Credit Facility; Extends Maturity to 2017

06/08/2012 | 01:10pm US/Eastern

The Babcock & Wilcox Company (NYSE: BWC) ("B&W") today announced that it has completed the amendment and restatement of its existing $700 million senior secured credit facility. B&W currently has no borrowings outstanding and approximately $218.5 million of letters of credit outstanding under the amended and restated facility. The entire unused amount is available for the issuance of performance and financial letters of credit, borrowing for working capital needs and general corporate purposes.

The amended and restated facility extends the maturity date of the credit facility to June 2017 and reduces the interest rate on borrowings under the credit facility to LIBOR + 1.5%, which rate will vary if the credit rating for the facility changes. It also includes an option permitting B&W to increase the size of the credit facility by up to an additional $300 million by receiving commitments from new or existing lenders.

"We are pleased with the results of the syndication of our amended and restated credit facility, as well as with the excellent relationships we have with our Lender group," said Anthony S. Colatrella, B&W's Senior Vice President and Chief Financial Officer. "The revised facility increases our financial flexibility and supports our ability to meet our operating and strategic goals."

Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas Securities Corp., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC acted as joint lead arrangers and joint book running managers for the transaction.

About B&W

The Babcock & Wilcox Company is a leader in advanced energy technology and services, primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 12,700 people, in addition to approximately 10,400 joint venture employees. Please visit our website at www.babcock.com.

The Babcock & Wilcox Company
Michael P. Dickerson, Vice President and Investor Relations Officer, 704-625-4944

© Business Wire 2012
React to this article
07/20DJLockheed Agrees to Buy Sikorsky For $9 Billion--6th Update
07/20DJLockheed Martin to Buy Sikorsky for $9 Billion
07/15 BWX TECHNOLOGIES : to Webcast Discussion of its Second Quarter 2015 Results
07/09 BWX TECHNOLOGIES : BWXT Announces NASA Contract for Consolidated Facility and Ma..
07/07 BWX TECHNOLOGIES : Babcock & Wilcox Successfully Completes Spin-Off, To Trade As..
07/06 BWX TECHNOLOGIES : BWXT Provides Tax Basis Allocation Methodology Following Powe..
07/06 BWX TECHNOLOGIES : Completion of Acquisition or Disposition of Assets, Change in..
07/01 BABCOCK & WILCOX : B&W completes spinoff from parent company
07/01 BABCOCK & WILCOX : Trademark Application for "AIREJET" Filed by Babcock & Wilcox..
06/30 BABCOCK & WILCOX : to split into two companies Tuesday (BRIEF)
Duration : Period :
BWX Technologies Inc Technical Analysis Chart | US05615F1021 | 4-Traders
Income Statement Evolution
More Financials